Boston Scientific Boosts FY24 Outlook - Update

(RTTNews) - While reporting financial results for the first quarter on Wednesday, medical devices company Boston Scientific Corp. (BSX) raised its adjusted earnings and net sales growth guidance for the full-year 2024.

For fiscal 2024, the company now projects earnings in a range of $1.43 to $1.48 per share and adjusted earnings in a range of $2.29 to $2.34 per share on net sales growth of about 11 to 13 percent, with organic net sales growth of 10 to 12 percent.

Previously, the company expected earnings in a range of $1.38 to $1.42 per share and adjusted earnings in a range of $2.23 to $2.27 per share on net sales growth of about 8.5 to 9.5 percent, with organic net sales growth of about 8 to 9 percent.

On average, analysts polled by Thomson Reuters expect earnings of $2.25 per share on revenue growth of 9.4 percent to $15.58 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company estimates earnings in a range of $0.35 to $0.37 per share and adjusted earnings in a range of $0.57 to $0.59 per share on net sales growth of about 10.5 to 12.5 percent, with organic net sales growth of about 10 to 12 percent.

Analysts expect earnings of $0.56 per share on revenue growth of 9.2 percent to $3.93 billion for the quarter.

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